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Course 304 – New York Session

Just as the European traders are getting back from their lunch breaks, the U.S. session resumes at 8:00 am EST with traders opening for business.

The U.S. session, like the Asia and Europe sessions has its one major financial hub and traders always have their focus on that place; New York City!

Below is a table of the New York session pip ranges of the major currency pairs.

TABLE

PAIR New York
EUR/USD 77
GBP/USD 68
USD/JPY 34
AUD/USD 68
NZD/USD 62
USD/CAD 67
USD/CHF 56
EUR/JPY 72
GBP/JPY 77
AUD/JPY 71
EUR/GBP 36
EUR/CHF

 

These pip values were derived based on the averages of past data. Take note that these values are not constant values and can change depending on liquidity and other market conditions.

Also, the session range for EUR/CHF has not been included since the Swiss franc has been pegged to the euro at 1.2000 during the period.

 

 

Here are some facts you should note about trading during the New York session:

  • During the morning, when it overlaps with the European session, there is high liquidity.
  • Most economic news are released towards the start of the New York session. Note that, about 85% of all trades involve the dollar, so whenever big time U.S. economic data is released, it tends to move the markets.
  • Liquidity and volatility becomes minimal during the afternoon U.S. session when the European markets most have closed for the day.
  • There are chances of reversals in the second half of the Friday sessions, as U.S. traders would normally close their positions against the weekend, in order to limit exposure to any weekend news.
  • Friday afternoons are usually slow, as Asian traders are out singing in karaoke bars while European traders head off to the pub to watch the soccer match.

Which Pairs Should You Trade?

Note that liquidity is normally on the rise because both the U.S. and European markets will be open simultaneously.

This allows you to trade almost any pair, although it is advised that you focus on the major and minor pairs and avoid the unusual ones.

Also, note that having the U.S. dollar on the other side of the majority of transactions, means participants will be focused on U.S. economics reports.

Whatever these reports turns out to be could dramatically change the course of events in the markets resulting to the easy fluctuation of the dollar.

If you’re unsure about when each session commences, you should check out our next lesson!

 


We advise you to open a Demo account for the purpose of this phase of learning.

Click on this LINK to create an FXTM Demo or Live Trading account >>> OPEN ACCOUNT

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